Holy Cross Economics Department Honors Theses

Economics Department Honors Students
Class of 2005

The Economics Department is proud to present the 2005 Economics Department honors students: Amber Donnelly, Kate Giapponi, Blyth Lauzon, Katie Lucia, and Elizabeth Roesser. Below are abstracts for their thesis papers. The complete papers can be downloaded in PDF format by clicking the titles. (A free PDF document reader is available from Adobe (www.adobe.com).) The papers were presented at The Holy Cross Academic Conference, on April 28-29, 2005. Congratuations to all the students!

Prof. Miles B. Cahill
Director, Economics Honors Program

Thursday, April 28, 2005

Katie Lucia

The Determinants of Education:
An In-Depth Examination by Race/Ethnicity

Abstract
College enrollment is increasing even though the real cost of attending college is rising. There is variation in college enrollment across race and ethnicity. White enrollment rates have increased faster than both black and Hispanic enrollment rates. Additionally, Hispanic enrollment rates are more volatile than whites or blacks. This paper estimates three college enrollment equations; one for each race/ethnicity discussed to find differences in the college decision. Factors such as student characteristics, family background characteristics, and high school quality have positive effects on the enrollment decision and counteract the negative effect of tuition. The effect of each of these characteristics varies among white, black and Hispanic students.

Thesis advisor: Prof. Robert Baumann
Please send comments to Katie Lucia, KELUCIA@holycross.edu

Katie Lucia and advisor, Prof. Rob Baumann

Kate E. Giapponi

Maternal Education:
The Key to Unlocking the Issue of Child Immunization and Health

Abstract
This study analyzes the effect of maternal education on child immunization status in the United States utilizing data from the National Immunization Survey produced by the Center for Disease Control (CDC). This study differs from previous work in that it examines the effect of actively induced postnatal child health outcomes as opposed to outcomes that result from prenatal maternal care. To account for the possible endogeneity of maternal education in relation to child immunizations, an instrument is constructed using number of colleges per state by potential year of maternal college initiation. This study uses a two-stage least squares model of analysis to generate results, which provide some evidence to support a positive correlation between maternal education and child immunization status. However, further work, including finding a better instrument for maternal education, is necessary for more conclusive and robust results.

Thesis advisor: Prof. Neva Novarro
Please send comments to Kate Giapponi, KEGIAPPO@holycross.edu

Kate Giapponi and advisor, Prof. Neva Novarro

Amber Donnelly

Measuring the Value of Open Space:
A Hedonic Study

Abstract
Using hedonic analysis, this study measures the effect of proximity to open space on house values in Lynnfield, Massachusetts. The open space types are divided into conservation, recreation, historic, and water supply land. The expectation is that homes in close proximity to open space will be more expensive than homes at a distance, when all other housing attributes are equal. In order to account for the quality of the open space, a size specification is incorporated, which assumes that the larger the open space area, the greater the value of the home. The results highlight the preferences of homeowners in Lynnfield and provide insight to policymakers when considering open space purchase.

The coefficient on distance from conservation and historic land is negative and statistically significant, meaning that homes in close proximity to these open space types sell at higher prices than equivalent homes. The coefficient on recreation land is negative and less significant, while the coefficient on water is positive, indicating that homes decline in value as they get closer to water supply lands. Possible reasons for the discrepancy regarding water supply lands are the result of omitted variable bias, the small number of observations for homes near water, or the exclusion of water-front properties. On average, a house adjacent to open space is found to sell for $34,600 more than a house at the mean distance of 198 meters.

Thesis advisor: Prof. Kolleen Rask
Please send comments to Amber Donnelly, ALDONNEL@holycross.edu

Amber Donnelly

Friday, April 29, 2005

Elizabeth Im Seon Roesser

The Transformation of Rural Women into Factory Workers in South China:
An Examination of Female Migration in a Developing Economy

Abstract
Since the 1980s, female migration in South China has been a leading cause of rapid industrial growth. Young rural women have migrated away from their families to work in urban sectors in order to gain money and independence. In Shenzhen, Guangdong Province, rural women have played a vital role in the development and industrialization of the economy. This paper investigates the causes of rural-urban migration and its impact on a developing economy. Closely examining one of the fastest growing economies in the world, this paper reviews Shenzhen's economic transformations from the 1980s to the present time and the impact of female labor on industrialization. This study focuses on the important economic theories of migration and the ways in which migration affects local and national economies. This study examines how female migration has been a key component to Shenzhen's rapid development and raises questions on the ways in which processes of globalization and modernization affect women socially, politically and economically.

Thesis advisor: Prof. Thomas Gottschang
Please send comments to Elizabeth Roesser, EIROESSE@holycross.edu

Liz Roesser with her advisor, Prof. Tom Gottschang

Blyth Lauzon

The Economic Impacts of the Historic District in Charleston, South Carolina

Abstract
It is generally believed that implementation of historic designation policies increases the value of the house that is designated "historic" while it also increases the cost of maintaining said house. Some studies find positive benefits to being located adjacent to a historic home, akin to the benefit of being located next to a park. These positive benefits are embodied in increases in property values. The question then arises, if an entire neighborhood is designated historic, will these benefits spill over into neighboring areas? If so, then creating a historic district may lead to increased property values throughout a city. Examining Census tracts in Charleston, SC over the period 1970-2000, this study does not find that spillovers consistently occur from historic designation.

Thesis advisor: Prof. Kathy Kiel
Please send comments to Blyth Lauzon, BCLAUZON@holycross.edu

Blyth Lauzon with her advisor, Prof. Kathy Kiel